Bloomberg News

Canadian Western Bank Increases CEO Pollock’s Pay to C$3 Million

January 26, 2012

Jan. 26 (Bloomberg) -- Canadian Western Bank, the country’s eighth-biggest lender, awarded Chief Executive Officer Larry Pollock C$3.04 million ($3.03 million) in compensation for 2011, a 1 percent increase from a year earlier.

Pollock, 65, received a salary of C$680,000 and C$2.36 million in bonus, share-based awards, stock options and other compensation for the year ended Oct. 31, according to a filing today by the Edmonton, Alberta-based bank. Pollock’s pay was C$3.01 million in 2010.

Canadian Western said Dec. 5 that annual profit rose 9 percent to C$178.1 million for the fiscal year on record revenue. Canadian Western has reported 94 consecutive quarters of profit, a record among the country’s banks.

--With assistance from Sean B. Pasternak in Toronto. Editor: William Ahearn

To contact the reporter on this story: Doug Alexander in Toronto at dalexander3@bloomberg.net

To contact the editors responsible for this story: David Scheer at dscheer@bloomberg.net; David Scanlan at dscanlan@bloomberg.netm


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